Consulting

RiskTools offers Consultancy services to new Clients. Our goal with undertaking any Consultancy is to assist your business develop internal resources so that they are able (competent) to undertake the specific areas of risk management in-house. The areas of Consultancy we offer include:

Development of a Risk Management Procedure
Facilitate a Risk Workshop
Documenting Contract Risk or Compiling a Tender response
Assessing the cost of carrying risk – Contingency
Assessing Schedule risk
Other specialist workshops

Development of a Risk Management Procedure

This is a “one off” process that is undertaken with a small management team. The procedure includes the development of a Risk Breakdown Structure (RBS), which can:

  • Provide a consistent framework for risk management across the entire organisation and for each level of management;
  • Form the foundation of a risk workshop;
  • Filter information to assist management in the risk management process;
  • Report across the organisation (eg for line function managers); and
  • Collect lessons learnt for use in subsequent projects.

During the process, we also:

  • Define the structure and responsibilities for risk management across the organisation;
  • Determine the appropriate descriptions for risk analysis;
  • Identify the minimum anticipated reporting requirements; and
  • Describe the risk management process and how to facilitate a risk workshop.

Facilitate a Risk Workshop

We facilitate risk workshops so that Clients can:

  • See the risk management processes and toolsets in action and readily appraise the simplicity of the process
  • Obtain a risk management plan including risk identification, analysis and treatment measures.
  • Expose personnel to the process (practical “on the job” training)
  • Assist in the development of potential in house facilitators for future workshops.
  • Bring specific external experience to the workshop that can add to the risk management outcomes

Documenting Contract Risk or Compiling a Tender response

Whether you are compiling a contract document or a tender, the processes for optimising risk management on the contract are similar. This is an area that offers significant gains to achieving a contract or tender response that optimises risk management.
Once risk workshops have been undertaken for a project the risks may be quickly categorised into who has control over each risk.

Risks will fall into three “camps”:

  • Those that the Principal controls and should carry (including inherent risk)
  • Those that the Contractor controls and should carry
  • Those where the risks is shared and by working together an optimal outcome may be obtained.

We assist Clients in undertaking the workshops, identifying which “camp” each risks falls in, and help develop strategies and document those risks where working together will produce the best outcome.

For large contracts where a non-standard form of contract is being used then we can also facilitate a workshop to “stress” the contract using a HAZOP type process (as outlined in HB 296:2007)

Assessing the cost of carrying risk – Contingency

We assist Clients in assessing cost contingency from two perspectives:

  • Those that relate to the estimate and which reflect the degree of comfort that the estimator has of the cost given to each line item
  • Those that reflect the costs that might arise should a risk occur that has been identified as part of the qualitative risk processes.

We help Clients assess the range of costs, run a Monte Carlo simulation, ensure that there is no “double dipping” and arrive at a visible assessment of an appropriate cost of contingency.

Assessing Schedule risk

We also assist Clients with an assessment of the risks associated with the time schedule for a project. This includes:

  • A review of the existing project schedule including a check on logic and constraints
  • Working with the team members to assess a suitable range of duration values
  • Running a Monte Carlo simulation and reviewing the outputs
  • Developing management strategies/processes to achieve a realistic and manageable schedule for the project

Other specialist workshops

We also assist Clients with facilitating special “one off” risk workshops. These include:

  • HAZOP
  • Safety in Design
  • Option risk profiles to assist in quickly identifying the best option
  • Workshops with external parties where an external facilitator is seen as independent and can often better manage risk management processes such as:
    • Relationship contracts
    • Government approval processes
  • Assessing the “Bottom line” in disputes/issues resolution
  • Value management studies (including the developing area of integration with risk management)

Where to from here?

Should any of the above Consultancy areas be of interest to you then please contact us using this email address and we will be pleased to develop a formal proposal for your consideration.